In the past week, the prices of cotton and cotton yarn in Pakistan have increased overall. The export price of cotton yarn has continued to rise driven by increased demand from China. The tight supply has also prompted spinners to increase their quotations for various yarns.
That week, the price of polyester-cotton yarn and polyester-viscose yarn in Pakistan increased by 4 rupees/kg and 2 rupees/kg respectively. Domestic demand for 20-count polyester-cotton yarn was strong, with a cumulative increase in the past four weeks. 9%, but the price trend of 100% cotton yarn is mixed.
Pakistan’s domestic cotton prices did not change that week, and transactions were sluggish. Karachi’s spot price index stabilized at 12,600 rupees/maund after rising for several weeks. Due to tight domestic cotton supply, Pakistani cotton mills are increasingly interested in imported cotton, and cotton imports this year are expected to hit a record high. Currently, the price of US cotton imported into Pakistan continues to rise, reaching 98 cents/pound.
In the past week, domestic and foreign demand for Indian cotton yarn has been sluggish, prices have fallen overall, and cotton yarn export prices have fallen. The increase in inventory of traditional and traditional varieties has driven down domestic cotton yarn prices. At the same time, the prices of other types of yarn in India, such as 100% chemical fiber yarn, 100% cellulose yarn and acrylic yarn, also fell.
The reason for the decline in yarn prices in India is the increase in yarn inventories after textile companies resume work and production, and insufficient liquidity in the textile industry chain restricts yarn sales. Banks also control loans. More stringent. At the same time, the price of cotton in India began to rise, and the price of imported cotton rose accordingly, mainly due to increased demand from China, Vietnam, and Pakistan.
At present, the growth of epidemic cases in various parts of India has further slowed down, and the number of infected cases per million people has dropped to the 80th place in the world. Domestic textile and apparel demand is expected to increase with the lockdown, prompting retailers to open their doors appropriately with restrictions. It is reported that Tamil Nadu has allowed all employees in the export department to work.
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